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The AARP, other consumer groups and some lawmakers are calling on a House subcommittee to take action on a bill to regulate the payday lending industry. The change to the bill prompted AARP to change its position from supporting reform of the industry to now calling for a total ban on payday lending. The bill to regulate the industry would allow someone to have only one outstanding loan at a time and would create a statewide database of loans to enforce that. If the subcommittee passes it next week, there would be at most three weeks for the full committee to pass it to the full House, the House to pass it, and then the House and Senate to reach an agreement on a final version of the bill. Find Out More

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